Finance

The Top 10 Credit Card Benefits You Didn’t Know About

3 Mins read

Getting a credit card is almost a milestone in one’s life. Nothing makes you feel more adult than pulling out a piece of plastic with your name on it from your wallet. The card can help you build a strong financial background, or it can destroy your financial capability. It relies on how you use it and whether the card you obtain suits your particular needs. It will be a crucial step in helping you establish a solid credit history if you handle it properly. 

A solid credit history will eventually allow you to get the best interest rates on mortgages, loans, and numerous other financial products. You have to know about the several credit card benefits to get the best of it. You may get airport lounge access, baggage and travel insurance, purchase protection insurance, accident insurance cover, fuel discounts, surcharge waivers, and other benefits. 

Credit cards give you access to a lot of money and allow you to make major purchases without using cash. You may get several credit card benefits if you know how to use it properly. They allow you to raise your credit score. They provide you with reward points that can be redeemed for various products and services. And they can secure you discounts from retail partners so you may make significant savings.

Here are 10 Credit Card Advantages to Assist You in Better Managing Your Money, Bearing All of this in Mind:

  1. Airport Lounge Access

Your credit card can help you travel more affordably and conveniently by air. Many credit cards provide free lounge access at both domestic and foreign airports. Thanks to this, you may use free Wi-Fi, buffet feasts, and cosy seats. For instance, you may get these advantages by using Bajaj Finserv RBL Bank Credit Card.

  1. Baggage and Travel Insurance

Seek a credit card that includes free insurance for your luggage and vital belongings if you travel frequently. It will help in the event that your luggage or vital travel papers, such as your passport, are lost or stolen. Certain cards provide coverage for both domestic and international travel. Others include lost tickets or a missed connecting flight in their credit card perks.

  1. Purchase Protection Insurance

Many credit cards can reimburse you if items you’ve bought with the card are ruined by a fire or stolen by thieves. Purchase protection is often provided against incidents stated by your issuer and up to a specific limit.

  1. Accident Insurance Cover

Some credit card offers assistance through an insurance policy in the event of an automobile or aeroplane catastrophe. These insurance policies provide significant money, measured in lakhs, and can assist you in paying for emergency medical care expenses abroad. The compensation can potentially reach RS. 1 crore in the event of an unintentional air death.

  1. Fuel Discounts and Surcharge Waivers

Getting a fuel credit card with surcharge exemptions, discounted rates, or cashback offers at fuel stations is one approach to saving money on fuel. Sometimes the exemptions are restricted to a specific percentage, and only a few stations are eligible for cashback incentives.

  1. Discounted and Free Movie Tickets

Choose a credit card with discounts on movie tickets to be amused while spending less as compelling films hit the big screen. For instance, based on the SuperCard version you select, you may receive free cinema tickets or monthly discounts from BookMyShow.

  1. Indemnity Cover for Doctors 

Keep an eye out for a credit card that includes indemnity insurance if you work in healthcare. Top-ranking cards now provide you with indemnity insurance of up to Rs. 20 lahks against charges that could result from malpractice while you’re practising.

  1. EMI Facility 

Credit cards are now just giving you reward points that you may use to lower the cost of everyday purchases. These cards allow you to break down purchases over Rs. 2,500 into smaller instalments and function as EMI cards. 

  1. Interest-Free Cash Withdrawals

Normally, you cannot use a credit card to withdraw money from an ATM, although some variations let you do so for a fee. One of its most distinctive credit card benefits is the ability to make ATM withdrawals with no interest for 50 days. This potent feature narrows the usefulness gap between a credit card and a debit card.

  1. Quick Personal Loans 

You can utilise your credit card to turn the available cash limit into a loan if you require money in an urgent situation. Few issuers provide this service, which significantly impacts your convenience.

Conclusion

You should give the credit card a look if you want adaptability, low-interest rates, and incredible deals all on one card. It is equipped with robust security safeguards and is accessible under straightforward eligibility conditions. Checking your pre-approved credit card offer is the simplest method to start your credit card application. By doing this, you can receive immediate acceptance, access to specialised promotions, and a chance to receive a welcome gift.

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